Intellectual Property Software Market Projected To Experience Major Revenue Boos

Posted by Fred Williams on April 5th, 2021

Intellectual property refers to the inventions, symbols, names, and images used by organizations, and other properties such as works of art. Intellectual property software enables users and organizations to effectively and efficiently manage and protect their intellectual properties. In addition, intellectual property software also helps to gain and maintain patents, trademarks, licenses, rights, and agreements across the intellectual property lifecycle. It supports the business across a wide range of applications which includes prior art search, intellectual property filings, product teardowns, patent landscape, patent portfolio analysis, business strategies, and in patent portfolio mining, and licensing/ litigation support.

Based on component, the intellectual property software market has been segmented into software, and services. The software segment is further segmented into cloud-based and on premise. Furthermore, services segment is categorized into development and implementation services, consulting services, and maintenance & support services. Based on services segment, maintenance & support services sub-segment is anticipated to see flourishing growth during the forecast period. This is primarily due to rising adoption of intellectual property software across multiple end-use industries especially manufacturing, healthcare, and IT & telecommunication. Cloud-based segment is expected to see increasing adoption, due to transition of businesses to paperless or cloud-based business models.

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